The latest economic meltdown has affected the globe thoroughly. The uncertainty which hit badly in Orange County is evident from the declining state of office market prevailing here.  With job situations going worse the vacancy rate also started to rise. Since the employment rate experienced a sharp downturn off late, availability of Office Space for Rent in Orange County also increased. The meltdown which resulted in closures and bankruptcies had actually affected the real estate arena with too many office spaces available here. Some of the major highlights reported by an expert are discussed below:
- Vacancy rate rose up to a whopping percentage.
- New office space availability didn’t show much of an improvement ever since the economic tsunami hit America.
Some experts even thought that situations go could have gone worse. However Orange County is yet to retrieve its previous economic positions which also mean that the real estate sphere is likely to be benefited in the forthcoming months.
